Stokes had taken a break from the game in July to focus on his mental wellbeing while also recovering from a finger injury he had suffered during the first leg of the IPL.
"England, they're always a big threat because of the squad they've got and the experience they have. But, for me, India are the favourites," Lee told 'Foxsports.com.au.'
On Friday, the England and Wales Cricket Board said "excellent progress had been made in dealings with Cricket Australia.
In addition to the 20 central contracts, players have been awarded "increment contracts and "pace bowling development contracts".
Former England pacer Matthew Hoggard has said that living in a bubble for the Ashes in Australia would be his worst nightmare.
The report said that the broken finger will now be far better and Stokes may be able to play without chronic pain in future.
During the Test series against India, Jonny Bairstow and Mark Wood did not compete in the first two Tests and took the field in the fourth match.
Nasser Hussain said that he was quite proud of the way the Joe Root-led side had kept their morale high and honoured its Test commitments, moving from one bio-bubble to another.
The 34-year-old Ali, a spin-bowling all-rounder, announced retirement from the longest format of the game on Monday.
England skipper Joe Root has said that all-rounder Moeen Ali's retirement from Test cricket was a huge loss for him as well as for 'the group'.
The upcoming Ashes series in Australia has been in the news as several England players have expressed their reservations against the strict COVID-19 protocols that are currently in place in Australia.
England are scheduled to travel to Rawalpindi in October for two Twenty20 Internationals, in what will be their first visit to Pakistan since 2005.
According to ESPN Cricinfo, the England and Wales Cricket Board (ECB) are still adamant and have not thought about postponement which has irked the senior players and support staff.
After the Manchester test got called off owing to a Covid scare, both the BCCI and England Cricket Board officials announced that the match will be rescheduled at a later date as a one-off game.
Indian cricket board and ECB decide to call off Manchester Test, series stays 2-1 as of now.